Citi Enhances Global Liquidity Network

Global Concentration Engine Tops $1.5 Trillion in Monthly Flows

New York, NY - October 15, 2012 – Citi Transaction Service’s Global Concentration Engine has now topped well over $1.5 trillion per month in flows. The Global Concentration Engine platform is the cornerstone of Citi’s program to enhance its market-leading global liquidity network, which today provides automated cash mobilization services in 84 countries, including 44 with cross-border services.

Citi deployed its new Global Concentration Engine in collaboration with Microsoft, which wanted to replace time-consuming manual wire transfers with a more efficient zero balanced account (ZBA) structure. Microsoft sought a banking solution that would automatically sweep account balances on an end-of-day basis, while also delivering data enabling its systems to process the entries automatically. Citi enhanced functionality and prioritized new markets based on Microsoft’s requirements and feedback gathered during the pilot.

Citi’s enhanced global liquidity network helps clients automatically mobilize available cash balances across more markets at the end of the processing day, instead of leaving behind residual balances due to currency cutoff constraints or limitations of partner bank networks. New features allow users to monitor and limit the movement of funds and to customize reporting capabilities that automate back-office reconciliations. All of these capabilities will be extended to additional markets.

“Microsoft Treasury set the bar high,” said George Zinn, Corporate Vice President & Treasurer at Microsoft. “With this new liquidity structure, we have jointly developed a solution that automates cash concentration for bank accounts, creates a just-in-time funding model for operating accounts and enables 100% accounting automation. The success of this project is largely due to the hard work and coordination of all stakeholders involved.”

“We are delighted to collaborate with Microsoft on deploying this innovative liquidity solution. Aside from its technical strength, Microsoft was the perfect partner for us because of its resource commitment to the project and willingness to dive into the details during the pilot,” said Elyse Weiner, Global Head for Liquidity & Investments with Citi Transaction Services. “It’s by constantly listening to clients that we maintain our lead in delivering end-to-end solutions to the most demanding corporations and financial institutions in the world,” added Weiner.

“We are seeing a continued focus on liquidity management among our clients,” said Michael Fossaceca, North America Head of Corporate Client Sales Management at Citi Transaction Services. “Multinational companies are recognizing that effective liquidity risk management is critical to the vitality of their organization. Now more than ever, they are looking for comprehensive and automated processes to help them manage their corporate liquidity in a seamless manner across their enterprise.”

Microsoft and Citi’s Global Cash Concentration Engine have collectively won a number of industry accolades for global liquidity management over the past year. This includes Treasury & Risk’s Alexander Hamilton Gold Medal for Cash Management and gtnews’ Working Capital Management “project of the year” awards. The solution also garnered a Celent “Model Bank” award, a TreasuryToday Adam Smith Award and Banking Technology award.

Citi Transaction Services, a division of Citi’s Institutional Clients Group, offers integrated cash management, trade, and securities and fund services to multinational corporations, financial institutions and public sector organizations around the world. With a network that spans more than 95 countries, Citi’s Transaction Services supports over 65,000 clients. As of the third quarter of 2012, it held on average $415 billion in liability balances and $12.8 trillion in assets under custody

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About Citi
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.